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Leading Singaporean Bank migrates from Legacy trading platform to Murex

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Challenge

The Singaporean bank acquired Hong Kong based bank, which was using the legacy system for its trading platform. It became difficult for the Singaporean Bank in getting the consolidated MIS reports and experiencing numerous operational and functional issues. So it wanted the Hong Kong based bank to migrate into Murex.

Solution

The bank chose Mindtree to upgrade to Murex from the legacy platform. Mindtree experts conducted a detailed gap and impact analysis of the legacy system and Murex and identified 150 reports to be migrated including MxML Exchange workflows. All these 150 reports has been migrated and integrated with the Banks existing Murex trading platform. The project was time bound and was completed successfully and went live as per the agreed schedule.

Results

This migration reduced the operational cost and improved efficiency by having a centralized trading platform. Due to this consolidated financial MIS reports, the bank was able to do the reconciliation much easier.

Mindtree [NSE: MINDTREE] is a global technology consulting and services company, helping enterprises marry scale with agility to achieve competitive advantage. “Born digital,” in 1999 and now a Larsen & Toubro Group Company, Mindtree applies its deep domain knowledge to 300+ enterprise client engagements to break down silos, make sense of digital complexity and bring new initiatives to market faster. We enable IT to move at the speed of business, leveraging emerging technologies and the efficiencies of Continuous Delivery to spur business innovation. Operating in 18 countries and over 40 offices across the world, we’re consistently regarded as one of the best places to work, embodied every day by our winning culture made up of over 21,000 entrepreneurial, collaborative and dedicated “Mindtree Minds.”